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Iowa cropland increases 0.1% in last 6 months

Medium-quality cropland valued at $7,119 per acre, according to Realtors Land Institute.

The average acre of Iowa cropland has increased in value 0.1% for the period September 2019 to March, 2020, the Realtors Land Institute - Iowa Chapter reports in its March 2020 Land Trends and Values Survey, released March 25.

According to the survey of farmland realtors, average-quality cropland throughout the state is valued at $7,119 per acre in March – up from $7,111 per acre in September. Values reported by survey participants in September 2019 were up 0.8%. Thus, in the last year, the state’s cropland has increased 0.9%. 

However, the statewide value of high-quality cropland decreased, from $9,482 to $9,448, according to the RLI. 

The southeast district of Iowa saw the largest increase with 1.8%, while the state’s South Central District saw the largest decrease at 1.3%.

Survey participants cite several factors influencing farmland values. These include:

  • Tight supply of quality farms on the market
  • MFP payments
  • Low interest rates
  • Above average crop yields

Negative factors include continued trade uncertainty and low commodity prices that strain net farm incomes. 

Here are more details, according to RLI – Iowa Chapter:

District

High-Quality Cropland - March 2020

Medium-Quality Cropland - March, 2020

Low-Quality Cropland - March, 2020

% Change in Value in Last 6 Months

Central

$10,113

$7,219

$4,437

-0.3%

East Central

$10,181

$7,598

$4,984

-0.2%

North Central

$9,182

$7,529

$5,238

-0.1%

Northeast

$9,793

$7,470

$4,800

0.3%

Northwest

$11,519

$8,796

$5,680

-0.6%

South Central

$6,961

$4,788

$3,282

-1.3%

Southeast

$10,089

$6,941

$4,614

1.8%

Southwest

$7,826

$6,056

$4,139

-0.3%

West Central

$9,675

$7,607

$5,064

1.0%

State

$9,482

$7,111

$4,693

0.1%

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